Property developer contact of mine in Christchurch was struggling to sell sections which his company subdivided and developed a and half year ago.
Then, Kiwibuild came along and he negotiated an in-principle agreement to develop and construct 60 units for Kiwibuild.
Alas, he was advised several months ago that the deal was not going ahead as Christchurch already has too many unsold units.
That seems to be the state of the Christchurch market.
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